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2020 (10) TMI 171 - Tri - Companies LawApproval of the Composite Scheme of Amalgamation - Section 230 to 232 and other applicable provisions of the Companies Act, 2013 read with Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 - HELD THAT:- Prior approval from Ministry of Civil Aviation is required to be obtained before sanction of the Scheme by this Tribunal. In the present case, the petitioner company has not placed on record the requisite approval, if any, obtained from the Ministry of Civil Aviation - taking in consideration of the said factum, the approval of the Scheme by this Tribunal is conditional upon the requisite sanction and approval from the Ministry of Civil Aviation in accordance with the prescribed guidelines. In view of absence of any other objections having been placed on record before this Tribunal and since all the requisite statutory compliances having been fulfilled (other than the one which is mentioned in para 15), this Tribunal, subject to para 16, sanctions the Scheme of Amalgamation, which are annexed as Annexure "A9" with the Company Petition as well as the prayer made therein - the scheme is approved.
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